Section 406 – Power to contract — Power of appointment not presently exercisable.

Effective 5/9/2017
75-10-406. Power to contract — Power of appointment not presently exercisable.
A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:

• (1) is also the donor of the power; and

• (2) has reserved the power in a revocable trust.

Enacted by Chapter 125, 2017 General Session